October 1: Cost of living will come down – Tinubu promises Nigerian
President Tinubu Pledges to Lower Cost of Living During Independence Day Address
NIGERIA – President Bola Tinubu assured Nigerians on Thursday that his administration is committed to reducing the cost of living in the country. His remarks came during a nationwide broadcast celebrating Nigeria’s 66th Independence Day anniversary.
In his address, President Tinubu emphasized that Nigeria possesses ample land and a capable workforce that can provide food for the entire nation. He outlined his administration’s focus on enhancing mechanized irrigation and promoting dry-season farming as part of the strategy.
The President also committed to improving access to seeds and fertilizers, increasing overall mechanization, and investing in better storage and transportation infrastructure to support agricultural productivity.
He highlighted ongoing efforts to construct and complete critical roadways, railways, and ports that would connect farms and factories to markets, thereby facilitating the movement of goods.
“Our priority is to bring down the cost of living. We will achieve this by lowering the cost of producing and moving the things Nigerians consume,” President Tinubu stated. He elaborated on the connection between improved efficiencies in production and transportation and lower consumer prices.
“Our logic is simple,” he said. “When a farmer produces more cheaply, when fewer crops are lost between the farm and the market, when a manufacturer spends less on electricity, when a truck reaches its destination faster, and when the business environment fosters fair competition, all those savings will ultimately find their way into the price of goods in the market.”
However, President Tinubu concluded by noting that achieving prosperity requires more than just lowering prices; it necessitates productive work across various sectors.
